Turo revealed that company had secured $117 million in Series G funding in January 2021. The company is now valued at more than $1 billion. IAC, a media and technology company that has invested in other well-known businesses like Vimeo, Expedia, and Angie’s List, spearheaded the fundraising. This round of funding is a reliable sign that Turo is almost ready to go public.
No, a valid driver’s license is necessary to rent a car through Turo. Your driver’s license, which must be current and not expired, is used by the company to confirm your identification. It is against Turo’s rules to use a fake ID, and doing so could result in a ban from the platform. Does Turo come and pick you up? Turo doesn’t offer pick-up or delivery services, sorry. The car must be picked up from the host’s location and returned at the conclusion of the rental time by the renter. However, some hosts could charge an extra cost for delivery.
A host can be anyone who satisfies Turo’s standards. The prerequisites include possessing a vehicle that satisfies Turo’s specifications, a current driver’s license, and sufficient insurance. Turo also requires hosts to maintain a high level of renter satisfaction.
Through its partner, Liberty Mutual, Turo offers hosts and renters liability insurance. Roadside assistance, collision and comprehensive insurance, as well as liability insurance up to $1 million, are all included in the insurance package. Turo offers three different insurance policies for hosts to select from: basic, standard, and premium. For added safety, renters can acquire supplemental insurance coverage.
Finally, even though Turo hasn’t made an official announcement about an IPO, the most recent investment round signals that the company is getting ready to list on the stock market shortly. If you’re interested in utilizing Turo, be sure to have a current driver’s license, abide by its rules, and hold adequate insurance.
Yes, Turo’s insurance policy includes coverage for theft. The protection plan the automobile owner chooses will, however, determine the scope of the coverage. Basic, Standard, and Premium are the three protection options that Turo offers. Physical damage and theft are covered up to $30,000 under the basic plan, while larger coverage limits are available under the standard and premium plans.